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Outboard Electric Motors Market

Global Outboard Electric Motors Market Share, Size, Analysis, Forecast: By Type: Outboard Electric Propulsion Motors, Outboard Electric Trolling Motors; By Application: Municipal Application, Civil Entertainment, Commercial Applications, Others; Regional Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032

Global Outboard Electric Motors Market Outlook

The global outboard electric motors market size is expected to grow at a CAGR of 5.20% between 2024 and 2032. The major market drivers include rising demand from the marine industry, environment friendliness of outboard electric motors, and increasing research and development activities by manufacturers.


Key Trends in the Market

An outboard electric motor is a self-contained propulsion system for a boat, that is used to power the boat as well as manoeuvre it. The self-contained unit is an actuation system that includes a gearbox, jet drive or propeller, and engine. Outboard electric motors are often preferred over gas motors because outboard electric motors are light, compact, reliable, and more powerful.

 

Global Outboard Electric Motors Market

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  • Use of electricity driven products is increasing rapidly across the globe owing to improved electrification and transformed mobility. This is expected to propel the demand for outboard electric motors with high power and efficient electric drive systems.
  • The demand for outboard electric motors is expected to rise owing to the technological improvements and developments in the market, and increasing availability of outboard electric motors with different capacities and specialised features.
  • Increasing investments from the governments of various countries towards supporting the development of electricity-driven products to reduce air pollution is contributing towards the expansion of the outboard electric motors market.

 

Market Analysis

Based on type, the market is bifurcated into outboard electric propulsion motors and outboard electric trolling motors. On the basis of application, the market is categorised into municipal application, civil entertainment, and commercial applications, among others. By region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Outboard Electric Motors Market

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global outboard electric motors market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

 

  • Honda Motor Co., Inc.
  • Torqeedo GmbH
  • Johnson Outdoors Inc.
  • Yamaha Motor Co., Ltd.
  • Suzuki Motor Corporation
  • Ray Electric Outboards Inc.
  • Epropulsion
  • CSM Tech Co., Ltd
  • Others

 

Market Share by Type

Based on type, outboard electric propulsion motors are expected to account for a sizable share of the outboard electric motors market. Outboard electric propulsion motors offer greater power and speed as compared to outboard electric trolling motors, due to which they are suited for a wider range of applications. They also have higher dynamic horsepower, and are available in different capabilities. Growing prevalence of recreational boating and marine tourism are further increasing the adoption of outboard electric propulsion motors to provide boats with adequate power.

 

Global Outboard Electric Motors Market

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Market Share by Region

North America is anticipated to account for a significant share in the outboard electric motors market because of the early adoption of these motors in the region by a large number of consumers. Moreover, widespread presence of outboard electric motor manufacturers and key players in the region is further supporting the growth of the market in North America. Fishing and recreational boating are prevalent in the region, supported by the vast coastline in North America and numerous water bodies, which is boosting the demand for outboard electric motors.

 

Competitive Landscape

Honda Motor Co., Inc. is a multinational company that has its headquarters in Tokyo, Japan. Founded in 1948, the company is known for manufacturing and supplying products such as automobiles, luxury vehicles, and scooters, among others.

 

Torqeedo GmbH was established in 2005 and is headquartered in Bayern, Germany. It is a commercial company that is involved in the designing, manufacturing, and marketing of electric boat motors.

 

Johnson Outdoors Inc. was founded in 1970 and is based in Wisconsin in the United States. The company is a global manufacturer of outdoor recreational products such as diving equipment, outdoor clothing, watercraft, and camping gear.

 

Other market players include Yamaha Motor Co., Ltd., Suzuki Motor Corporation, Ray Electric Outboards Inc., Epropulsion, and CSM Tech Co., Ltd, among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Application
  • Region
Breakup by Type
  • Outboard Electric Propulsion Motors
  • Outboard Electric Trolling Motors
Breakup by Application
  • Municipal Application
  • Civil Entertainment
  • Commercial Applications
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Honda Motor Co., Inc.
  • Torqeedo GmbH
  • Johnson Outdoors Inc.
  • Yamaha Motor Co., Ltd.
  • Suzuki Motor Corporation
  • Ray Electric Outboards, Inc.
  • Epropulsion
  • CSM Tech Co., Ltd
  • Others

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Outboard Electric Motors Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Outboard Electric Motors Historical Market (2018-2023) 
    8.3    Global Outboard Electric Motors Market Forecast (2024-2032)
    8.4    Global Outboard Electric Motors Market by Type
        8.4.1    Outboard Electric Propulsion Motors
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2023)
            8.4.1.3    Forecast Trend (2024-2032)
        8.4.2    Outboard Electric Trolling Motors
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2023)
            8.4.2.3    Forecast Trend (2024-2032)
    8.5    Global Outboard Electric Motors Market by Application
        8.5.1    Municipal Application
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2023)
            8.5.1.3    Forecast Trend (2024-2032)
        8.5.2    Civil Entertainment
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2023)
            8.5.2.3    Forecast Trend (2024-2032)
        8.5.3    Commercial Applications
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2023)
            8.5.3.3    Forecast Trend (2024-2032)
        8.5.4    Others
    8.6    Global Outboard Electric Motors Market by Region
        8.6.1    North America
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2023) 
            8.6.1.3    Forecast Trend (2024-2032)
        8.6.2    Europe
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2023) 
            8.6.2.3    Forecast Trend (2024-2032)
        8.6.3    Asia Pacific
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2023) 
            8.6.3.3    Forecast Trend (2024-2032)
        8.6.4    Latin America
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2018-2023) 
            8.6.4.3    Forecast Trend (2024-2032)
        8.6.5    Middle East and Africa
            8.6.5.1    Market Share
            8.6.5.2    Historical Trend (2018-2023) 
            8.6.5.3    Forecast Trend (2024-2032)
9    North America Outboard Electric Motors Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2023) 
        9.1.3    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2023) 
        9.2.3    Forecast Trend (2024-2032)
10    Europe Outboard Electric Motors Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2023) 
        10.1.3    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2023) 
        10.2.3    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2023) 
        10.3.3    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2023) 
        10.4.3    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Outboard Electric Motors Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2023) 
        11.1.3    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2023) 
        11.2.3    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2023) 
        11.3.3    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2023) 
        11.4.3    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2023) 
        11.5.3    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Outboard Electric Motors Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2023) 
        12.1.3    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2023) 
        12.2.3    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2023) 
        12.3.3    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Outboard Electric Motors Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2023) 
        13.1.3    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2023) 
        13.2.3    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2023) 
        13.3.3    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2023) 
        13.4.3    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Honda Motor Co., Inc.
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Torqeedo GmbH
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Johnson Outdoors Inc.
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Yamaha Motor Co., Ltd.
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Suzuki Motor Corporation
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Ray Electric Outboards, Inc.
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Epropulsion
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    CSM Tech Co., Ltd
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Others
16    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Outboard Electric Motors Market: Key Industry Highlights, 2018 and 2032
2.    Global Outboard Electric Motors Historical Market: Breakup by Type (USD Million), 2018-2023
3.    Global Outboard Electric Motors Market Forecast: Breakup by Type (USD Million), 2024-2032
4.    Global Outboard Electric Motors Historical Market: Breakup by Application (USD Million), 2018-2023
5.    Global Outboard Electric Motors Market Forecast: Breakup by Application (USD Million), 2024-2032
6.    Global Outboard Electric Motors Historical Market: Breakup by Region (USD Million), 2018-2023
7.    Global Outboard Electric Motors Market Forecast: Breakup by Region (USD Million), 2024-2032
8.    North America Outboard Electric Motors Historical Market: Breakup by Country (USD Million), 2018-2023
9.    North America Outboard Electric Motors Market Forecast: Breakup by Country (USD Million), 2024-2032
10.    Europe Outboard Electric Motors Historical Market: Breakup by Country (USD Million), 2018-2023
11.    Europe Outboard Electric Motors Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Asia Pacific Outboard Electric Motors Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Asia Pacific Outboard Electric Motors Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Latin America Outboard Electric Motors Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Latin America Outboard Electric Motors Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Middle East and Africa Outboard Electric Motors Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Middle East and Africa Outboard Electric Motors Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    North America Historical Price Trends and Forecast 2018-2028
19.    Europe Historical Price Trends and Forecast 2018-2028
20.    Asia Pacific Historical Price Trends and Forecast 2018-2028
21.    Latin America Historical Price Trends and Forecast 2018-2028
22.    Middle East and Africa Historical Price Trends and Forecast 2018-2028
23.    Global Outboard Electric Motors Market Structure

Key Questions Answered in the Report

The market is expected to grow at a CAGR of 5.20% between 2024 and 2032.

The major market drivers are rising demand from the marine industry, environment friendliness of outboard electric motors, and increasing research and development activities by manufacturers.

The key trends of the market are increasing use of electricity driven products, increasing investments by various governments, and technological developments.

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

An outboard electric motor is a self-contained system that is used to power and steer a boat.

The significant applications of outboard electric motors include municipal application, civil entertainment, and commercial applications, among others.

The primary types of outboard electric motors in the market are outboard electric propulsion motors and outboard electric trolling motors.

The key players in the outboard electric motors market, according to the report, are Honda Motor Co., Inc., Torqeedo GmbH, Johnson Outdoors Inc., Yamaha Motor Co., Ltd., Suzuki Motor Corporation, Ray Electric Outboards Inc., Epropulsion, and CSM Tech Co., Ltd, among others.

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